£1.2m Santander investment for vehicle rental company

Auto Leasing UK Ltd, trading as Priory Rentals, is to expand its fleet of cars, vans and motorhomes by 25% over the next 12 months following £1.2m in financing from Santander Business Banking.

Priory Rentals is a vehicle rental firm serving the Lancashire and Cheshire markets, operating from two sites in Oswaldtwistle and Northwich.

Established in 2007, the firm has seen record demand from customers for its vehicles and is investing for future growth.

Owner Emma Carter has overseen 60% growth in terms of revenue since taking on the business.

The new funding from Santander will be used to help the firm better manage seasonality in demand and the need for additional stock at certain times.

Priory Rentals now employs 14 staff and is forecasting this could grow to 20 over the next year.

The firm has benefited from strong demand for short-term rental of motorhomes by customers travelling to festivals in the UK and in Europe.

Key events include Glastonbury, V Festival, Goodwood and Kendal Calling.

Emma Carter said: “The funding from Santander will be key to us taking the business to the next level.

“We have developed real momentum in the market, with significant numbers of repeat customers and fantastic customer feedback, and in order to meet the increased demand we need to expand our fleet, particularly our range of motorhomes.

“We are also hoping to build a greater market share across North West of England.”

Kelly Catterall, business relationship director, Santander Business Banking, said: “We’re delighted to be supporting Emma and her team as they look to capitalise on strong demand and invest for future growth.

“Priory Rentals has managed to differentiate its business proposition in a competitive market, thanks to the size of its fleet and the focus on customer service, and we are confident that the business will continue to flourish.”